Gold futures slip from records on weak global cues

Last Updated: Monday, June 4, 2012 - 13:08

New Delhi: Tracking a weakening global trend, gold prices slipped from a record level over Rs 30,000 by losing Rs 108 to Rs 29,991 per 10 grams in futures trade today on profit-booking.

Sentiment turned bearish as gold in international markets declined as speculators judged the recent upsurge an overdone and booked profits.

At the Multi Commodity Exchange, gold for delivery in August fell by Rs 108, or 0.36 percent to Rs 29,991 per 10 grams in business turnover of 5,118 lots.

Similarly, the metal for June contract lost Rs 81, or 0.27 percent, to Rs 29,785 per 10 grams in 131 lots.

Market analysts attributed the fall in gold futures to weakening global trend.

In Singapore, gold fell 0.6 percent to USD 1,614.88 ounce. It had climbed 4.1 percent on June 1, the most since January 2009.


First Published: Monday, June 4, 2012 - 13:08

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